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Insolvency regulator caps number of cases an IP can handle at 10 at a time

Business Line  

Insolvency regulator IBBI has capped the number of assignments of corporate insolvency that an Insolvency Professional (IP) can handle at a time as part of its efforts to ensure that mandates don't get concentrated in a few hands. An IP, henceforth, cannot have more than 10 corporate insolvency assignments at a time and, of this 10, not more than three can be large ones with admitted claims exceeding INR 1,000 crore each, the Insolvency and Bankruptcy Board of India (IBBI) has now stipulated.